MEG Energy Adjourns its Shareholders to Vote On Cenovus Tie-Up -- Market Talk

Dow Jones

Oct 31

1110 GMT - MEG Energy is finally rounding up its shareholders to vote on the proposed offer to be acquired by Cenovus Energy at C$30 a share, and it's all but a done deal. MEG says that, as of today, 86% of all MEG shares are in favor of the deal, and if the MEG shares held by Strathcona are excluded, 83% of the remaining shares are still in favor. To pass the deal, 66.67% of MEG shareholders need to vote in favor. Until recently, it wasn't certain because Strathcona Resources, a spurned bidder for MEG, said it would use its 14.2% stake to vote against. However, the latest agreement between MEG and Cenovus includes the divestiture of certain assets to Strathcona, effectively buying their support.(adriano.marchese@wsj.com)

(END) Dow Jones Newswires

October 31, 2025 07:10 ET (11:10 GMT)

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MEG says that, as of today, 86% of all MEG shares are in favor of the deal, and if the MEG shares held by Strathcona are excluded, 83% of the remaining shares are still in favor. To pass the deal, 66.67% of MEG shareholders need to vote in favor. Until recently, it wasn't certain because Strathcona Resources, a spurned bidder for MEG, said it would use its 14.2% stake to vote against. 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MEG says that, as of today, 86% of all MEG shares are in favor of the deal, and if the MEG shares held by Strathcona are excluded, 83% of the remaining shares are still in favor. To pass the deal, 66.67% of MEG shareholders need to vote in favor. Until recently, it wasn't certain because Strathcona Resources, a spurned bidder for MEG, said it would use its 14.2% stake to vote against. However, the latest agreement between MEG and Cenovus includes the divestiture of certain assets to Strathcona, effectively buying their support.(adriano.marchese@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 31, 2025 07:10 ET (11:10 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CVE","symbol_name":"Cenovus能源","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2579463673","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2579463673","pubTimestamp":1761909000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1110 GMT - MEG Energy is finally rounding up its shareholders to vote on the proposed offer to be acquired by Cenovus Energy at C$30 a share, and it's all but a done deal. MEG says that, as of today, 86% of all MEG shares are in favor of the deal, and if the MEG shares held by Strathcona are excluded, 83% of the remaining shares are still in favor. To pass the deal, 66.67% of MEG shareholders need to vote in favor. Until recently, it wasn't certain because Strathcona Resources, a spurned bidder for MEG, said it would use its 14.2% stake to vote against. 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MEG says that, as of today, 86% of all MEG shares are in favor of the deal, and if the MEG shares held by Strathcona are excluded, 83% of the remaining shares are still in favor. To pass the deal, 66.67% of MEG shareholders need to vote in favor. Until recently, it wasn't certain because Strathcona Resources, a spurned bidder for MEG, said it would use its 14.2% stake to vote against. However, the latest agreement between MEG and Cenovus includes the divestiture of certain assets to Strathcona, effectively buying their support.(adriano.marchese@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 31, 2025 07:10 ET (11:10 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}